Nifty Eyes 23K Mark and Bank Nifty Heading Towards 50K Mark...

EQUITY BULLETIN FOR 07 MARCH 2024

Nifty Future Overview

Nifty reversed sharply from the lower levels and made a fresh life high again in the last trading session. Now, we will expect a fresh upside move in the upcoming trading session.

Now, Nifty futures has near support around 22500 and an upside near hurdle around 22620 levels. Break and sustain above 22620 will take it towards 22680-22720 levels.

On the other side, Nifty has near support around 22500 levels, break and sustain below 22500 will expect a downside fall till 22420-22380 levels. Any sharp dip around 22500 will be a buying opportunity for the traders

Trading strategy

Traders can Buy Nifty Futures around 22500 with a stop loss below 22400 levels for the upside movement till 22580— 22650 levels.

Bank Nifty Overview

Bank Nifty performed mind-blowingly and is heading towards the 50K mark in upcoming sessions. We will expect a fresh long build-up in upcoming sessions. Bank Nifty's future has near major around 47900 and near resistance around 48300, breaks and sustains above 48300 will see an upside movement till 48500-48700 levels.

On the lower side, Bank Nifty has a near major support around 47900, a break and sustain below 47900 will see a downside fall to 47700 levels. Any sharp dip around support will be a good opportunity for the traders.

Trading Strategy

Buy Bank Nifty Future on dip around 48000 with a stop loss below 47700 for the upside movement till 48300—48500 levels in an intraday trading session.

Trade cautiously with levels only.

Stock Pick of the Day

SRF (07/03/2024)

Buy SRF above 2430 for the upside move till 2465 and then to 2500 levels in the coming days. Stop loss above 2395.

**T&C Apply...